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Massey Motors is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 10 percent a year

Massey Motors is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 10 percent a year for the next 3 years and then decreasing the growth rate to 4 percent per year. The company just paid its annual dividend in the amount of $1.00 per share. What is the current value of one share of this stock if the required rate of return is 13.75 percent? SHOW ALL WORK

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